by Nigerian News24 Correspondents
Nigeria and Brazil are set to sign key bilateral agreements this week covering aviation and agriculture, aimed at strengthening trade ties and boosting investment between the two countries.
President Bola Ahmed Tinubu, who is on a two-day state visit to Brazil at the invitation of President Luiz Inácio Lula da Silva, will witness the signing of the deals, including the restoration of direct flights between Lagos and Rio de Janeiro and a major livestock and mechanisation programme under the Green Imperative Partnership (GIP).
On aviation, the Bilateral Air Services Agreement (BASA) will allow Brazil’s Varig Air and two Nigerian carriers — Air Peace and Caverton — to operate direct flights between both nations. Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, will sign on behalf of the federal government.
In the agriculture sector, Brazil will inject fresh investments into Nigeria’s livestock sub-sector, aligning with Tinubu’s creation of a Ministry of Livestock Development. The South American powerhouse will also supply 10,000 tractors and 50,000 pieces of equipment, to be assembled in Nigeria, under the $1.1 billion GIP initiative. The project is projected to create at least 100,000 direct jobs and over five million indirect jobs while enhancing food production and security.
The visit marks Tinubu’s third trip to Brazil in the past year, following his attendance at the G-20 Summit in November 2024 and the BRICS Summit in July 2025. Brazil’s Vice President Geraldo Alckmin had earlier visited Nigeria in June, where preliminary agreements were signed with Vice President Kashim Shettima.
Analysts say the renewed push comes as bilateral trade between the two nations remains underutilised. Trade, which stood at about $9 billion a decade ago, fell to $1.6 billion in 2023 and remained under $2 billion in 2024. While Brazil exported machinery and poultry worth around $970 million, Nigeria’s exports of oil, cocoa, urea, and sesame totaled about $920 million.
Despite the decline, Nigeria’s non-oil exports are increasingly penetrating the Brazilian market. In October 2024 alone, Nigeria’s non-oil exports reached $620 million, with Brazil accounting for more than 20 percent.
Beyond agriculture and aviation, Brazilian energy giant Petrobras and aircraft manufacturer Embraer are also exploring new investments in Nigeria’s oil, gas, and aviation sectors. Both governments have set a target of raising trade volumes above $2 billion in the short term, with a long-term goal of hitting $3.5 billion by 2030.